The three biggest risks to Lithuania’s financial system are the consequences of the war in Ukraine, the state of the economy, and cyber attacks, according to the Bank of Lithuania’s survey, ELTA reports. The risk of cyber attacks has increased significantly, the central bank noted. Dovydas Poderys, senior economist at the Bank of Lithuania, said…
Latvia’s new president, Edgars Rinkevics, held his inauguration speech in the Latvian parliament, the Saeima, outlining his vision of a “strong, modern, just, and safe” Latvia, on 8 July 2023, LSM reports. The President noted that Latvia was one, yet not homogenous, and stressed that the rights of every person must be protected. Latvia’s biggest…
Baltic and Polish culture ministers will sign a joint declaration of support for the restoration of Ukraine’s cultural heritage, Baltic News Network reports. The ministers will sign the declaration on the final day of the Latvian Song and Dance Festival at the Latvian Museum of Architecture (LAM) in Riga on 9 July 2023. The joint…
The presidents of Latvia, Lithuania, and Poland — Egils Levits, Gitanas Nauseda, and Andrzej Duda — have sent a joint letter to NATO Secretary General Jens Stoltenberg and leaders of NATO member states to warn them of the threats posed by the developments in Belarus, BNS reports. In the letter, the three presidents pointed out…
The death of a Lithuanian volunteer, Valerijus Polkovnikovas, in Ukraine has caused controversy as it was initially believed to be related to frontline injuries, which later turned out to be untrue, Baltic News Network reports. Defence Minister Arvydas Anusauskas first expressed condolences and praised the fallen fighter in a social media post but quickly deleted…
Estonia’s biggest beer producer, Saku Õlletehas (Saku Brewery), reported sales of EUR 72.3mn in 2022, which was down 11% from 2021, ERR reports. The company’s annual net profit amounted to EUR 6.6mn, which was down 18.5% from a year earlier. The company attributed the worse results to the cessation of exports to Russia and Belarus,…
Lithuanian President Gitanas Nauseda believes that NATO’s upcoming Vilnius summit will reach agreements that will "not disappoint" Ukraine in its fight against Russian invasion, LRT reports. Speaking in an interview with BNS, Nauseda said that the summit was unlikely to invite Ukraine to join the alliance after the war, however. Instead, NATO countries are expected…
Europe said that the Baltic States were right about Russia, but is ignoring us again, Lithuania’s former president, Dalia Grybauskaite, said, LRT reports. Speaking at a conference on the war in Ukraine at Vilnius University, Grybauskaite noted that when Baltic politicians warned Western leaders after Russia annexed Ukraine’s Crimean peninsula in 2014, they were ignored,…
Lithuania’s state-owned railway company, Lietuvos Gelezinkeliai (LTG), generated revenue of EUR 434.1mn in 2022, which was down 6.7% from EUR 465.1mn in 2021, LRT reports. The company’s annual net profit amounted to EUR 1.2mn, which was down almost 20 times from EUR 23.5mn a year earlier. LTG’s freight volume totalled 31mn tonnes in 2022, which…